Whilst the real estate market goes through cycles that are very much attached to the economic cycle, there is a core about real estate that can never be changed. That core is that everyone needs a home to live in whether it is an apartment, a townhouse, a villa, or a house, and that is something that means there is an ever present demand for property.
That constant demand for a roof over a head can show up either as purchasing demand or rental demand. If there is rental demand, then investors need to buy properties for those tenants and so, between home buyers and investors, there is an ever present constant demand for real estate.
What does vary throughout that economic cycle and the real estate cycle is the consumer confidence around prices that people will pay. In a period of what we describe as a ‘boom’, buyers will feel confident that the market is rising and that they can pay higher prices than recent comparable sales in the belief that prices will be higher as time goes on. In a correction phase of the market, buyers will still buy but will not pay those higher prices as the believe there is a risk that the market will see lower prices going forward.
Whilst we would all love to pick an upward period in the real estate market, that is not always possible. Ultimately, the buying and selling of real estate is tied to our needs. Our need to move geographic location, our need to up-size or downsize, our financial situation etc. etc. Given the real estate cycle typically extends over a 7 – 10 year period, most people cannot hold back their buying and selling decisions over a 1 or 2 year period to when the cycle may be in their favour.
We pride ourselves on having the benefit of 115 years in the real estate market. We feel fortunate that the Principals of our office have over 40 years experience in the real estate market and have been through 7 real estate cycles. There would be no one on the Gold Coast who has greater knowledge about how to provide our clients with the best advice and, most importantly, to be able to provide our clients with the best outcomes for all their real estate transactions, whether that be buying or selling.
As you would appreciate, in every industry there are newcomers and there are the most experienced. There are the less skilled and the most skilled. It is because of this that there are so many stories about the failures of our industry in providing outstanding service or achieving the best results for clients. 60% of our business comes from repeat or referral clients because we have spent the past 40 years building up the most experienced team of top operators in the industry and we are proud to have been recognized for this by so many industry groups such as the Real Estate Institute, the Gold Coast Business Excellence Awards, and as a 20 time holder of the No. 1 Ray White Group internationally. It is our lifelong goal to be the very best in the industry.
Our team and all our resources will be available to you for whatever your real estate needs are. Please feel free to reach out, ask all those questions you may have, and do not make a decision around real estate without considering us your trusted adviser.
It will be many years until we see real estate back in that brief boom period and so good strategy and good planning is required by all of us over the years to come to make the best of the existing market, and especially here on the magnificent Gold Coast.
Once again, we are here for you so please reach out on our real estate hotline on 1800 198 009 or by email on info@rwsp.net.